WASHINGTON (AP) – Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high inflation and rising interest rates.
The government said Wednesday that retail sales rose 1.3% in October from September, up from a flat reading in September from August.
The increase was led by car sales and higher gas prices.
Still, excluding autos and gas, retail spending rose 0.9% last month.
Even adjusting for inflation, spending increased at a solid pace.
Prices rose 0.4% in October from September.